FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 restricted by treasury stock)
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5
March 20
April 5
July 5
July 31
August 14
October 5 Declared a $0.50 per share cash dividend, date of record October 10.
Declared a $0.50 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
5. How much net income did the company earn this year?
Net income
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Transcribed Image Text:Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.50 per share cash dividend, date of record October 10. Declared a $0.50 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. 5. How much net income did the company earn this year? Net income
: Corporate Reporting and Alldlysis Tobich.
The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.
Stockholders' Equity (January 1).
Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and
outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 restricted by treasury stock)
Less cost of treasury stock.
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5 Declared a $0.50 per share cash dividend, date of record January 10.
March 20 Purchased treasury stock for cash.
April 5
July 5
July 31
August 14
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
October 5 Declared a $0.50 per share cash dividend, date of record October 10.
5. How much net income did the company earn this year?
< Prev
S co
of 12
$ 175,000
135,000
340,000
$ 650,000
‒‒‒
Next >
$ 207,000
179,800
420,000
806,800
(40,000)
$ 766,800
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Transcribed Image Text:: Corporate Reporting and Alldlysis Tobich. The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1). Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock. Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 July 31 August 14 Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10. 5. How much net income did the company earn this year? < Prev S co of 12 $ 175,000 135,000 340,000 $ 650,000 ‒‒‒ Next > $ 207,000 179,800 420,000 806,800 (40,000) $ 766,800
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